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Australian (ASX) Gold Industry Analysis

UpdatedMar 31, 2026
DataAggregated Company Financials
Companies153
  • 7D9.4%
  • 3M-14.3%
  • 1Y44.7%
  • YTDn/a

The Gold industry is up 9.4% in the last week, with Northern Star Resources up 16%. During this same period, the Dateline Resources underperformed, falling 12%. In the last 12 months, the industry was up 45%. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

Has the Australian Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Apr 2026AU$141.1bAU$32.2bAU$6.6b16.2x21.4x4.4x
Fri, 27 Feb 2026AU$189.5bAU$30.8bAU$6.1b26.5x31.2x6.2x
Sun, 25 Jan 2026AU$187.0bAU$26.3bAU$4.6b29.4x41x7.1x
Tue, 23 Dec 2025AU$166.5bAU$26.4bAU$4.6b28.5x36.4x6.3x
Thu, 20 Nov 2025AU$144.4bAU$26.5bAU$4.6b23.6x31.2x5.5x
Sat, 18 Oct 2025AU$153.7bAU$26.4bAU$4.6b25.5x33.5x5.8x
Mon, 15 Sep 2025AU$129.3bAU$26.8bAU$4.8b18.1x26.8x4.8x
Wed, 13 Aug 2025AU$102.3bAU$22.4bAU$3.2b19.4x32x4.6x
Fri, 11 Jul 2025AU$98.0bAU$22.2bAU$3.1b18.3x31.7x4.4x
Sun, 08 Jun 2025AU$107.7bAU$22.3bAU$3.1b21.4x34.9x4.8x
Tue, 06 May 2025AU$91.5bAU$22.1bAU$3.0b16.6x30.3x4.1x
Thu, 03 Apr 2025AU$85.2bAU$22.2bAU$3.0b17.2x28x3.8x
Sat, 01 Mar 2025AU$76.4bAU$22.0bAU$3.0b17.8x25.7x3.5x
Mon, 27 Jan 2025AU$77.6bAU$18.6bAU$1.8b20.1x42.7x4.2x
Wed, 25 Dec 2024AU$69.5bAU$18.6bAU$1.8b21.3x37.7x3.7x
Fri, 22 Nov 2024AU$73.2bAU$18.6bAU$1.8b19.9x40.5x3.9x
Sun, 20 Oct 2024AU$75.4bAU$18.4bAU$1.8b22.7x42.1x4.1x
Tue, 17 Sep 2024AU$67.2bAU$18.3bAU$1.6b21.2x40.9x3.7x
Thu, 15 Aug 2024AU$62.1bAU$16.1bAU$1.1b23.5x56.5x3.9x
Sat, 13 Jul 2024AU$60.9bAU$16.0bAU$1.1b23.5x57x3.8x
Mon, 10 Jun 2024AU$60.3bAU$16.9bAU$1.2b22.1x50.8x3.6x
Wed, 08 May 2024AU$58.0bAU$17.1bAU$1.2b21.4x48.8x3.4x
Fri, 05 Apr 2024AU$57.8bAU$17.1bAU$1.2b21x48.6x3.4x
Sun, 03 Mar 2024AU$48.6bAU$16.5bAU$1.2b15.8x41.6x3x
Tue, 30 Jan 2024AU$72.1bAU$22.9bAU$1.3b19x53.7x3.1x
Thu, 28 Dec 2023AU$77.0bAU$22.9bAU$1.3b26.9x57.3x3.4x
Sat, 25 Nov 2023AU$70.9bAU$22.9bAU$1.4b21.4x52.5x3.1x
Mon, 23 Oct 2023AU$72.0bAU$23.1bAU$1.4b24.9x52.3x3.1x
Wed, 20 Sep 2023AU$71.2bAU$22.9bAU$1.3b19.7x53.3x3.1x
Fri, 18 Aug 2023AU$65.4bAU$24.6bAU$449.7m17x145.3x2.7x
Sun, 16 Jul 2023AU$75.2bAU$22.1bAU$519.9m17.6x144.7x3.4x
Tue, 13 Jun 2023AU$71.2bAU$22.2bAU$561.0m17x126.9x3.2x
Thu, 11 May 2023AU$76.5bAU$22.2bAU$563.2m19.3x135.8x3.4x
Sat, 08 Apr 2023AU$74.4bAU$22.3bAU$567.2m17.1x131.1x3.3x
Price to Earnings Ratio

131.1x


Total Market Cap: AU$74.4bTotal Earnings: AU$567.2mTotal Revenue: AU$22.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Gold Industry Price to Earnings3Y Average 58.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Gold industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 21.4x which is lower than its 3-year average PE of 59.0x.
  • The industry is trading close to its 3-year average PS ratio of 4.0x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 127% per year over the last three years.
  • Revenues for these companies have grown 13% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Australian Gold compare with similar industries?

AU Market0.96%
Materials7.84%
Metals and Mining8.21%
Gold9.44%
Precious Metals and Minerals13.22%
Diversified Metals and Mining8.36%
Copper8.09%
Aluminum7.39%
Silver7.17%
Steel5.60%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NST Northern Star ResourcesAU$20.3615.9%
+AU$4.0b		10.8%PE18.8x
EVN Evolution MiningAU$12.626.1%
+AU$1.5b		74.6%PE19.3x
GGP Greatland ResourcesAU$11.3420.8%
+AU$1.3b		n/aPE11.8x
WGX Westgold ResourcesAU$5.8914.1%
+AU$692.8m		110.4%PE22x
PRU Perseus MiningAU$5.159.3%
+AU$590.7m		52.8%PE13.4x

Latest News

NST
AU$20.36
Northern Star Resources
7D
15.9%
1Y
10.8%
AAU
AU$0.012
Antilles Gold
7D
-14.3%
1Y
200.0%
FML
AU$2.32
Focus Minerals
7D
-4.1%
1Y
1,004.8%
GGP
AU$11.34
Greatland Resources
7D
20.8%
1Y
n/a
AS1
AU$0.11
Asara Resources
7D
-4.3%
1Y
144.4%
EVN
AU$12.62
Evolution Mining
7D
6.1%
1Y
74.6%

EVN: Higher Commodity Decks Will Likely Support Repriced Earnings Power

Analysts have lifted the fair value estimate for Evolution Mining from A$13.17 to A$13.91, reflecting higher price targets across the Street as they refresh commodity price decks and factor in updated views on gold and broader metals markets. Analyst Commentary Street research on Evolution Mining has shifted meaningfully in recent weeks as analysts refresh commodity price assumptions and update valuation models.
RRL
AU$6.65
Regis Resources
7D
11.8%
1Y
68.8%
CMM
AU$11.00
Capricorn Metals
7D
13.1%
1Y
35.3%
WGX
AU$5.89
Westgold Resources
7D
14.1%
1Y
110.4%
VAU
AU$4.17
Vault Minerals
7D
14.6%
1Y
42.6%
PRU
AU$5.15
Perseus Mining
7D
9.3%
1Y
52.8%

PRU: Cost Discipline And Project Execution Will Support Upside Potential

Analysts have trimmed their fair value estimate for Perseus Mining by A$0.00 to A$6.47, reflecting slightly higher discount rate assumptions and more cautious profit margin expectations after recent research turned more bearish on the shares. Analyst Commentary Bullish Takeaways Bullish analysts see the refined fair value estimate of A$6.47 as still supportive of upside potential if Perseus Mining can deliver on cost control and project execution targets.
SMI
AU$0.67
Santana Minerals
7D
-13.5%
1Y
21.8%
LRM
AU$0.019
Lion Rock Minerals
7D
-13.6%
1Y
90.0%
WIA
AU$0.41
WIA Gold
7D
-1.2%
1Y
141.2%
DTR
AU$0.46
Dateline Resources
7D
-11.7%
1Y
11,275.0%
POL
AU$0.70
Polymetals Resources
7D
-3.4%
1Y
-19.5%